Author Question: A graphic designer needs a laptop for audio/video editing, and notices that they can elect to pay ... (Read 49 times)

colton · **on:** Jul 9, 2019

A graphic designer needs a laptop for audio/video editing, and notices that they can elect to pay $2900 for a Dell XPS laptop, or lease from the manufacturer for monthly payments of $79 each for four years. The designer can borrow at an interest rate of 7% APR compounded monthly. What is the cost of leasing the laptop over buying it outright?
◦ Leasing costs $311 more than buying.
◦ Leasing costs $892 more than buying.
◦ Leasing costs $399 more than buying.
◦ Leasing costs $384 more than buying.

taylorsonier · **Reply #1 on:** Jul 9, 2019

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